Latest cap numbers from TJ

TJLionheart, forum regular, came up with the latest cap figures for the 2004 Lions. NetRat posts them to his website, but here is TJ's reasoning from the forum:

... just updated the chart for 2004 and sent them to NetRat. My thanks to Wolvy for the RFA/ERFA contract numbers. Here is the lowdown ...

Right now we have 34 players under contract for 2004, with 6 RFA's and 8 ERFA's, for a total of 48 players we have the rights to. These guys combined, assuming a minimum tender, eat up $65.7 million in cap space (along with our dead cap space acquired from 2003 cuts, and money for our practice squad). That leaves around $12.3 million in available space assuming a cap of around $78 million.

We will need about $5.0 million for our rookie pool, so that would bring our player total to 54 players with $7.3 million in available space.

If we cut Porcher and Stewart, both in the last year of their contracts, that would free up an additional $8.9 million in 2004. If we cut Ellis and Schroeder as expected, after June 1, 2004, that will free up an additional $5.0 million.

Bottom Line, that would leave us at $21.2 million available with 50 players under contract. We should plan on needing at least 60 players to count for at least 7 player equivalents on IR. So, $21.2 million in play for about 10 FA players. Keep in mind that some of this "play" can be used to tender RFA's at the higher amount ($1.35 mil.), or eat a cap hit early, such as a cut of Ellis or Schroeder before June 1, 2004.